Century Aluminum Applauds President Biden’s Executive Order to Support Domestic Manufacturing
Century Aluminum Company (CENX) praises President Biden's Executive Order aimed at bolstering domestic manufacturing and supply chains. The CEO, Michael Bless, emphasizes the importance of manufacturing for national security and job creation. The company supports Buy America standards, advocating for domestic production of aluminum for federal contracts. This initiative is seen as vital for rebuilding the U.S. manufacturing base post-COVID-19, ensuring resilience during supply chain disruptions. Century Aluminum is the largest primary aluminum producer in the U.S., with smelters in Kentucky and South Carolina.
- Support for Biden's Executive Order promoting domestic manufacturing and job creation.
- Commitment to Buy America standards, which may enhance demand for domestic aluminum.
- Position as the largest primary aluminum producer in the U.S. could lead to increased market share.
- None.
CHICAGO, Jan. 25, 2021 (GLOBE NEWSWIRE) -- Century Aluminum Company (NASDAQ: CENX) supports and applauds today’s Executive Order signed into law by President Biden to support domestic manufacturers, businesses, and American workers. This Executive Order is an essential part of our economic recovery as we work to rebuild our critical manufacturing base and domestic supply chains, while ensuring that our future is made in America by all of America’s workers.
“Manufacturing is the backbone of our great nation. We applaud President Biden for his leadership on this critically important issue that will empower domestic manufacturing while creating more good paying jobs for American workers,” said Michael Bless, CEO of Century Aluminum. “Today’s executive action by the Biden Administration will strengthen our national security and critical infrastructure and ensure that our government is investing taxpayer dollars in American businesses as we work together to Build Back Better.”
The COVID-19 pandemic demonstrated to all Americans that we need to rebuild our manufacturing base. In a national emergency when supply chains are disrupted, the United States must have core manufacturing capabilities. President Biden’s Executive Order is a first step to not only Build Back Better but to also help ensure that the United States maintains core manufacturing capabilities. To do that it is important that Buy America standards require that aluminum products used in Federal contracting be produced from primary aluminum smelted in the United States. Century Aluminum stands ready to work with the Biden Administration to strengthen domestic supply chains for primary aluminum which is a critical component of our national defense and infrastructure.
About Century Aluminum Company
Century Aluminum Company is the largest primary aluminum producer in the United States, with three operating aluminum smelters in Kentucky and South Carolina. For more information: www.centuryaluminum.com.
Cautionary Statement
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are statements about future events and are based on our current expectations. These forward-looking statements may be identified by the words "believe," "expect," "hope," "target," "anticipate," "intend," "plan," "seek," "estimate," "potential," "project," "scheduled," "forecast" or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could," "might," or "may." Our forward-looking statements include, without limitation, statements with respect to: the future impact of the Executive Order or Buy America program to Century or the aluminum industry in general; the future operation of our smelters, including plans to restart curtailed production and any costs, benefits or actions associated therewith; future investment in the Hawesville or Mt. Holly restarts and our other operations, including future investments in new technology or other production improvements; our ability to hire and retain qualified employees; future global and local financial and economic conditions; our assessment of the aluminum market and aluminum prices (including premiums); our ability to procure alumina, carbon products and other raw materials and our assessment of pricing and costs and other terms relating thereto; the future financial and operating performance of Century, its subsidiaries and its projects; future earnings, operating results and liquidity; our future business objectives, strategies and initiatives.
Where we express an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, our forward-looking statements are based on current expectations and assumptions that are subject to risks and uncertainties which may cause actual results to differ materially from future results expressed, projected or implied by those forward-looking statements. Important factors that could cause actual results and events to differ from those described in such forward-looking statements can be found in the risk factors and forward-looking statements cautionary language contained in our Annual Report on Form 10-K, quarterly reports on Form 10-Q and in other filings made with the Securities and Exchange Commission. Although we have attempted to identify those material factors that could cause actual results or events to differ from those described in such forward-looking statements, there may be other factors that could cause results or events to differ from those anticipated, estimated or intended. Many of these factors are beyond our ability to control or predict. Given these uncertainties, investors are cautioned not to place undue reliance on our forward-looking statements. We undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.
Contact
Peter Trpkovski
(Investors and media)
312-696-3132
Source: Century Aluminum Company
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